Overview
- Input Output Global and Circle deployed the stablecoin infrastructure on Cardano, with operational support from Pentad and Midgard Labs.
- The dedicated bridge supports depositing USDC on Ethereum to mint USDCx 1:1 on Cardano and burning USDCx to redeem USDC, reflecting a reserve‑represented design rather than native issuance.
- Minswap, Liqwid and SundaeSwap integrated USDCx at launch, providing immediate trading, lending and liquidity options.
- IOG is subsidizing USDCx bridge fees for the first 10 days to lower initial costs for users.
- Users with USDC on Base and supported centralized exchanges can move into USDCx without interacting with Ethereum directly, as stablecoin supply on Cardano rises to about $34 million versus TVL above $137 million with muted DEX activity.